Transaction 8

On March 1, fixtures and equipment were purchased for $4,000 with a downpayment of $2,000 and a $2,000 note, payable in one year. Interest of 4.5% per year was due when the note was repaid. The estimated life of the fixtures and equipment is 8 years with no expected salvage value. [Note:Record the complete entry for the March 1 equipment purchasefirst, the March 31 depreciation adjusting entrysecond, and the March 31 interest adjusting entrythird.Also, round all answers to the nearest cent.]

Account:CashAccounts ReceivableInventoryPrepaid RentFixtures and EquipmentAccounts PayableInterest PayableWages PayableNotes PayablePaid-in CapitalRetained EarningsLeave BlankDollar amount:Account:CashAccounts ReceivableInventoryPrepaid RentFixtures and EquipmentAccounts PayableInterest PayableWages PayableNotes PayablePaid-in CapitalRetained EarningsLeave BlankDollar amount:Account:CashAccounts ReceivableInventoryPrepaid RentFixtures and EquipmentAccounts PayableInterest PayableWages PayableNotes PayablePaid-in CapitalRetained EarningsLeave BlankDollar amount:Account:CashAccounts ReceivableInventoryPrepaid RentFixtures and EquipmentAccounts PayableInterest PayableWages PayableNotes PayablePaid-in CapitalRetained EarningsLeave BlankDollar amount:Account:CashAccounts ReceivableInventoryPrepaid RentFixtures and EquipmentAccounts PayableInterest PayableWages PayableNotes PayablePaid-in CapitalRetained EarningsLeave BlankDollar amount:Account:CashAccounts ReceivableInventoryPrepaid RentFixtures and EquipmentAccounts PayableInterest PayableWages PayableNotes PayablePaid-in CapitalRetained EarningsLeave BlankDollar amount:Account:CashAccounts ReceivableInventoryPrepaid RentFixtures and EquipmentAccounts PayableInterest PayableWages PayableNotes PayablePaid-in CapitalRetained EarningsLeave BlankDollar amount:Account:CashAccounts ReceivableInventoryPrepaid RentFixtures and EquipmentAccounts PayableInterest PayableWages PayableNotes PayablePaid-in CapitalRetained EarningsLeave BlankDollar amount:Tries 0/8

please record which dollar amounts are negative and how to record this problem